Recently the European Union has banned the world's largest diamond mining company 'Alrosa'.

Recently the European Union has banned the world's largest diamond mining company 'Alrosa'.

Daily Current Affairs   /   Recently the European Union has banned the world's largest diamond mining company 'Alrosa'.

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Category : Business and economics Published on: January 06 2024

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  • 'Alrosa' is the world's largest diamond mining company.
  • Recently the European Union has banned this company.
  • The European Union has imposed this ban showing its commitment towards Ukraine in the Russia-Ukraine war.
  • Alrosa produces about 90% of Russia's diamond production.
  • After this ban, Alrosa's assets in Europe will be confiscated.
  • EU citizens and companies will be barred from providing funding to Alrosa.
  • This step has been taken for Russia to withdraw its forces from Ukraine.
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